Gary Vaynerchuk: ROI of Social Media

Gary Vaynerchuk: ROI of Social Media 

“More content is currently created within 48-hours than was created from the beginning of mankind through 2003.”
Eric Schmidt, Executive Chairman, Google

Gary Vaynerchuk, Author, Entrepreneur and Social Media Expert, was interviewed on Piers Morgan Tonight (CNN) in December, 2011.  The interview contained a lot of great advice on how to better connect with consumers using social media, especially Twitter.  Below are the three key points that I took away from the interview.

1 – Caring.  What is it worth if you have one million followers on Twitter?  What is the ROI of social media?  It is not the number of followers that is important, it is the quality of conversations that you have with them.  There are too many messages being communicated to consumers for them to pay attention to you.  Consumers do not want to be sold to either – that is, have messages pushed to them (“buy my product”).  They want to do business with companies that truly care about them.  Bakers created the “baker’s dozen” for a reason – they cared.

2 – Conversation.  Consumers are being inundated/pounded with content of which they ignore 99.9%.  How do you breakthrough the noise and reach them?  You have a conversation with them.  Search Twitter with hash-tags (#) about your industry, product, service, etc.  What are consumers talking about?  Participate in the conversation by providing helpful content (“content is king”), so they discover who you are.  The ratio should be one push (tweet) for every 1,000 pulls (interactions).  It is about “the humanization of business.”

3 – Scale.  Social media is about “scaled caring” through conversation and humanization.  Twitter actually makes you more social.  While you may not know people like your best friend, you will interact with them enough, so when you meet in person (event), you start the conversation from a different place.  Social media is about keeping the conversation going; e.g., event to Twitter.  It is about building long-term relationships; marrying someone versus having a one night stand with them.

All contents copyright © 2012, Josh Lowry. All rights reserved.

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